Cooper-Standard Holdings Inc. (NYSE:CPS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Cooper-Standard Holdings Inc. operates as a supplier of systems and components for the automotive industry. Its products include sealing and trim, fuel and brake delivery, fluid transfer, thermal and emissions and anti-vibration systems. The company markets its products directly to automotive original equipment manufacturers, tier I and tier II suppliers, and non-automotive manufacturers. Cooper-Standard Holdings Inc. is headquartered in Novi, Michigan. “
Several other analysts also recently weighed in on the stock. Bank of America Corp. downgraded shares of Cooper-Standard Holdings from a “neutral” rating to an “underperform” rating in a research report on Tuesday, June 21st. Goldman Sachs Group Inc. initiated coverage on shares of Cooper-Standard Holdings in a research report on Tuesday, June 14th. They issued a “neutral” rating and a $95.00 price objective on the stock. Jefferies Group reiterated a “buy” rating and issued a $96.00 price objective (up from $83.00) on shares of Cooper-Standard Holdings in a research report on Thursday, May 5th. Roth Capital assumed coverage on shares of Cooper-Standard Holdings in a research report on Wednesday, July 6th. They issued a “buy” rating and a $105.00 price objective on the stock. Finally, KeyCorp assumed coverage on shares of Cooper-Standard Holdings in a research report on Thursday, March 31st. They set a “sector weight” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Cooper-Standard Holdings has a consensus rating of “Hold” and a consensus target price of $93.60.
Cooper-Standard Holdings (NYSE:CPS) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported $2.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.87. The firm earned $862.50 million during the quarter, compared to the consensus estimate of $812.55 million. Equities analysts anticipate that Cooper-Standard Holdings will post $9.32 earnings per share for the current year.
Other hedge funds recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in Cooper-Standard Holdings by 36.8% in the second quarter. American Century Companies Inc. now owns 112,540 shares of the company’s stock worth $8,890,000 after buying an additional 30,279 shares during the period. Smith Asset Management Group LP increased its stake in Cooper-Standard Holdings by 13.1% in the second quarter. Smith Asset Management Group LP now owns 9,685 shares of the company’s stock worth $765,000 after buying an additional 1,125 shares during the period. Bank of Montreal Can bought a new stake in Cooper-Standard Holdings during the second quarter worth approximately $2,633,000. Robeco Institutional Asset Management B.V. increased its stake in Cooper-Standard Holdings by 88.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 49,248 shares of the company’s stock worth $3,889,000 after buying an additional 23,160 shares during the period. Finally, Boothbay Fund Management LLC increased its stake in Cooper-Standard Holdings by 50.3% in the first quarter. Boothbay Fund Management LLC now owns 6,582 shares of the company’s stock worth $473,000 after buying an additional 2,203 shares during the period.
Cooper-Standard Holdings Inc is a holding company. The Company, through its subsidiaries, manufactures sealing, fuel and brake delivery, fluid transfer and anti-vibration systems components for use in passenger vehicles and light trucks. The Company operates through four segments, which include North America, Europe, South America and Asia Pacific.
